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<br /> HIGHLANDS AT RIVER PARK 3R~ ADDITION
<br /> DEVELOPMENT AGREEMENT
<br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA
<br />
<br /> THIS AGREEMENT, made and entered into by and between the CITY OF RAMSEY,
<br />a municipal corporation under the laws of the State of Minnesota (the "CITY"), and ARCON
<br />DEVELOPMENT, INC. whose address is 7625 Metro Boulevard, Suite 350, Edina, MN _.5439
<br />(the "DEVELOPER").
<br />
<br />WITNESSETH:
<br />
<br /> WHEREAS, the DEVELOPER is the fee owner of the following described property
<br />situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described
<br />as follows:
<br />
<br />Outlot A, Highlands At River Park, according to the recorded plat thereof, Anoka
<br />County, Minnesota, EXCEPTING those parts platted a Highlands At River Park and
<br />Highlands At River Park 2"d Addition, according to the recorded plats thereof, said
<br />Anoka County, Minnesota.
<br />
<br />- or upon recording -
<br />
<br />Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, and 12, Block 1; Lots 1, 2, 3,4, 5, 6, 7, 8, and 9, Block
<br />2; Lc.s 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, and 14, Block 3; HIGHLANDS AT RIVER
<br />PARK 3rd ADDITION, Anoka County, Minnesota.
<br />
<br />(the "Subject Property"); and
<br />
<br /> WHEREAS, on June 10, 2003, pursuant to Resolution No. 03-06- ., the CITY
<br />approved the final plat of the Subject Property, which plat is known as HIGHLANDS AT
<br />RIVER PARK 3rd ADDITION (the "Plat"), which approval is contingent on certain
<br />requirements, including the DEVELOPER and the CITY entering into this Agreement; and
<br />
<br /> WHEREAS, the final plat for the Subject Property conforms to the preliminary plat for
<br />Highlands At River Park approved by the CITY on September 11, 2001 and reaffirmed on May
<br />' 3, 2003; and
<br />
<br /> WHEREAS, the CITY ;'"quires certain improvements to be constructed within the Plat,
<br />which improvements are defined as Stage I and Stage II Improvements in the City Code; and
<br />
<br /> WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat
<br />to be constructed without financial participation by the CITY.
<br />
<br /> WHEREAS, the DEVELOPER desires to construct the Stage I and Stage II
<br />improvements, except for those Stage II Improvements constructed by the CITY; and
<br />
<br />Development Agreement/Highlands At River Park 2"a Addition
<br /> Page 1 of 11
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